MONTREAL, Aug. 14 /CNW Telbec/ - In view of the announcement made today
on August 14, 2007 concerning a market disruption in the asset-backed
commercial paper and the inability by MMAI-I Trust ("MMAI-I") to roll its
maturing asset-backed commercial paper and/or extendible notes ("ABCP"),
Global Diversified Investment Grade Income Trust ("Global Digit") was notified
by MMAI-I Trust that it is withholding payments to Global Digit and would not
be providing Global Digit with the necessary funding to pay the distributions
of August 15, 2007. Accordingly, Global Digit is announcing the suspension of
the distribution of $0.0495 per unit declared on July 18, 2007 and normally
payable on August 15, 2007 to the holders of record at the close of business
on July 31, 2007. Global Digit understands that MMAI-I Trust will reevaluate
the situation as the events develop.
Unitholders of Global Digit are exposed to any losses incurred by MMAI-I
or its creditors, as well as to MMAI-I's ability to renew or replace on a
continuous basis maturing short term debt. The trustee is closely monitoring
the situation to protect the interests of the stakeholders in Global Digit.
About Global Digit
Global Digit provides an economic interest in an equity tranche of credit
default swap agreements in respect of portfolios of mortgage-backed
securities, asset-backed securities, structured finance securities and
synthetic corporate exposures.
For further information:
For further information: François Rivard, (514) 879-6405,